Under its new ownership, AIG Private Bank will become an independent
financial institution, headquartered in Switzerland along with branches
and representative offices in Hong Kong, Shanghai, Singapore and Dubai.
AIG Private Bank will conduct its business under a new name and will
continue to focus on providing wealth management services to high net
worth individuals in Switzerland, Western and Eastern Europe, Asia and
the Middle East.

"We have looked very thoroughly at AIG Private Bank and are impressed by
the professionalism and dedication of the management team and staff.
This transaction represents a great opportunity to leverage AIG Private
Bank's expertise in wealth management and to further develop it in our
region. AIG Private Bank provides us with a platform with the potential
for significant long-term growth and value creation," said H.E. Khadem
Al Qubaisi, Chairman of Aabar and future designated Chairman of the bank.

"We are proud and delighted that we have found a strong and
internationally renowned investor such as Aabar to support the future
development of our bank. This sends a clear message to our customers
that we will continue to be a trustworthy, reliable and competent
partner for them," said Eduardo Leemann, CEO of AIG Private Bank. "It
also offers us new opportunities to expand our operations, especially in
the Middle East," Mr. Leemann added. He and his senior management team
will remain with the bank.

The transaction is subject to satisfaction of certain conditions,
including approvals by appropriate regulatory authorities.

American International Group, Inc. (AIG), a world leader in insurance
and financial services, is the leading international insurance
organization with operations in more than 130 countries and
jurisdictions. AIG companies serve commercial, institutional and
individual customers through the most extensive worldwide
property-casualty and life insurance networks of any insurer. In
addition, AIG companies are leading providers of retirement services,
financial services and asset management around the world. AIG's common
stock is listed on the New York Stock Exchange, as well as the stock
exchanges in Ireland and Tokyo.

Aabar Investments PJSC is a global investment company listed on the Abu
Dhabi Securities Exchange. Aabar Investment's mandate is to invest
across industry sectors in attractive opportunities with significant
long-term growth potential.

SOURCE: American International Group, Inc.

American International Group, Inc.
David Monfried, Restructuring Communications
(212) 770-7205